2011 NBOA Financial Position Survey (PDF)
The 2011 NBOA Financial Position Survey offers the first comprehensive look at the "balance sheet" of independent schools. The data within this study, collected from 232 independent schools, offers insight into what makes a school financially sustainable.
James Pugh (James Pugh & Associates LLC), a founding member of NBOA, collected 54 data points (similar to information collected in a Moody’s credit rating) from each of the participating schools to look at 11 key financial indicators that affect the financial management of said schools, including the gap between tuition (and fees) and educational expense.
For the first time, using this study, a school can now assess its financial strength relative to the rest of the independent school sector and develop data-based strategies toward a sustainable future.